FORGOT YOUR DETAILS?

maximize hotel revenue

The beginning of fall is the perfect time to strategically plan how to maximize revenue through the end of the year. When the holidays start to roll around, people are much more inclined to spend, and hotels are a popular item to spend money on.

Especially in the midst of family gatherings, holiday parties and the like, it can be an absolutely gold rush of revenue if you are prepared. We want to help you finish out the year strong so we’ve compiled the following tips for your benefit:

Total Revenue Management for Hotels

When it comes to revenue opportunities for a hotel, there are two main categories: Sales and Savings.

Both categories are useful and can be applied in different settings. Adopting strategies and implementing new tactics that save money by cutting back on a cost is very beneficial, and is more of a long-term strategy. Investing money up front, perhaps in some sort of product that can be sold, is also an excellent source of income for a hotel.

All too often the quick-pace of life gets in the way of taking the time to assess where more revenue might be saved or acquired, ultimately hurting a hotel’s bottom line.

We’ve compiled a quick list of some often overlooked revenue ideas for hotels from both categories. Ways to save revenue (thus increasing it over time), or to immediately increase revenue.

HMG Hospitality

Being a part of a hotel brand or franchise can provide numerous benefits and resources. Often times, individual hotel management teams aren’t aware of all the different ways they can maximize the return on their branded investment. Rather than letting simple ROI opportunities fall by the wayside, grab them while they’re hot and reap the benefits. Analyze the following three areas within your hotel, and take note if your hotel team is taking advantage of them as best as possible.

TOP